The Saudi-Pakistani Business Forum 2024 took place on Thursday, October 10, in the capital city of Pakistan, Islamabad, reported the Saudi Press Agency (SPA).
With the aim of exploring the targeted investment opportunities in both countries, the Saudi Minister of Investment, Khalid Al-Falih, and Pakistan’s Deputy Prime Minister and Foreign Minister, Ishaq Dar, in addition to several Saudi and Pakistani business leaders and investors, participated in the Business Forum.
On the sidelines of the Saudi-Pakistani Business Forum, businessmen from both countries signed memoranda of cooperation that covered energy, agriculture, food, mining and information technology, as well as other vital sectors.
In his speech, the Saudi Minister of Investment emphasized the depth of relations between Saudi Arabia and Pakistan. He noted that Pakistan has the potential to become a lucrative and low-risk investment hub. He also pointed out that the country is a prime investment destination for Saudi investors.
Moreover, Al-Falih praised the Pakistani government’s economic initiatives, particularly the creation of the Special Investment Facilitation Council (SIFC), as a key platform to facilitate investments.
According to Al-Falih, the bilateral trade has reached $5.4bn. The Saudi Minister expressed confidence that the bilateral economic, investment, and trade cooperation will strengthen over time.
In his remarks, the Pakistani Deputy Prime Minister, Ishaq Dar, said that Pakistan is keen on strengthening economic and investment cooperation with Saudi Arabia.
He expressed gratitude for the Kingdom’s leadership over the unwavering and continued support for Pakistan, most notably during the recent economic challenges.
Dar also noted that the visit of the Saudi business delegation demonstrates the shared vision and enduring partnership between the two friendly nations.
